Personal Accident and Health Insurance in Singapore, Key Trends and Opportunities to 2016


#132956

215pages

Timetric

$ 1950

In Stock

Synopsis

The report provides in depth market analysis, information and insights into the Singapore personal accident and health insurance market, including:

  • The Singapore life insurance markets growth prospects by personal accident and health insurance categories and customer segments
  • The various distribution channels in the Singapore personal accident and health insurance market
  • The competitive landscape in the Singapore personal accident and health insurance market
  • A description of the personal accident and health reinsurance market in Singapore
Summary

Increasing levels of government healthcare expenditure, coupled with Singapores ageing population, is likely to drive the demand for health insurance coverage over the forecast period. Singapore has a large elderly population with the number of people aged 65 and above accounting for 9.9% of the total population in 2011. This is anticipated to increase the sales of private health insurance products. This situation will be compounded by the nations inadequate government-sponsored healthcare system, including 3Ms and no national health insurance schemes, which provides a potential opportunity for private insurers to position their products in the market.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Singapore:

  • It provides historical values for the Singapore personal accident and health insurance market for the reports 20072011 review period and forecast figures for the 20122016 forecast period 
  • It offers a detailed analysis of the key sub-segments in the Singapore personal accident and health insurance market, along with market forecasts until 2016
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for insurance products in Singapore
  • Using Porters industry-standard Five Forces analysis, it details the competitive landscape in Singapore for personal accident and health insurance business
  • It provides a detailed analysis of the reinsurance market in Singapore and its growth prospects
  • It profiles the top personal accident and health insurance companies in Singapore and outlines the key regulations affecting them
Reasons To Buy

  • Make strategic business decisions using in depth historic and forecast market data related to the Singaporean personal accident and health insurance market and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Singaporean personal accident and health insurance market
  • Assess the competitive dynamics in the personal accident and health insurance market
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Singaporean insurance market and its impact on companies and the market's future
Key Highlights

  • Singapore has a sophisticated healthcare system, however the existing national medical saving schemes such as Medisave, Medifund and Medishield cannot meet the countrys rising healthcare expenditure as these schemes provide cover only for a limited range of diseases and meet low value medical expenses. 
  • The demand for personal accident and health insurance products is expected to remain strong over the forecast period and will be driven by Singapores positive economic development, anticipated to measure a CAGR of 4.7% according to the IMF.
  • Increasing levels of government healthcare expenditure, coupled with Singapores ageing population, is likely to drive the demand for health insurance coverage over the forecast period. 
  • Personal accident and health insurance penetration as a percentage of GDP still remains low when compared to other Asian countries, which provides insurers with positive growth potential going forward.